Switzerland-based biopharmaceutical company Crispr Therapeutics closed its series A and B rounds today having raised a combined $89m from investors including pharmaceutical firms GlaxoSmithKline and Celgene.
GlaxoSmithKline, with invested through its independent SR One subsidiary, and Celgene led the rounds, which comprised of a $25m first series A tranche raised in April 2014, a further $35m of series A funding and a $29m series B round.
Venture capital firm New Enterprise Associates (NEA) and investment firms Versant Ventures, also Crispr’s founding investor, and Abingworth also contributed to the funding.
Crispr is developing medicines based on CRISPR-Cas9 gene-editing technology. It will use the capital to advance its drug candidates into clinical research, and to upgrade its research and development facilities in Cambridge, Massachusetts.
Simeon George, partner at SR One, said: “CRISPR-Cas9 is a fundamental breakthrough that enables us to address the root cause of multiple diseases through gene-editing.
“We are excited to be part of the very talented team from academia and industry at Crispr Therapeutics, as they embark on a very compelling mission to transform patient care by bringing CRISPR-Cas9 into the clinic.”
George will join the company’s board in conjunction with the funding, along with Ali Behbahani from NEA and Kurt von Emster from Abingworth.